Sigma Receives Strategic Proposals as Lithium Boom Rolls On [BNN Bloomberg (Canada)]
Rio Tinto Plc (RIO)
US:NYSE Investor Relations:
riotinto.com/investors-87.aspx
Company Research
Source: BNN Bloomberg
The nascent industry has been consolidating this year, while some of the world's biggest carmakers look to secure future supplies of the key battery ingredient. Sigma said it has received multiple strategic proposals for its main Canadian company, its Brazilian subsidiary and the mine it's developing. The Toronto-listed miner is valued at C$4.77 billion ($3.5 billion). “The companies and the project have attracted interest from potential strategic partners, including global industry leaders in the energy, auto, batteries and lithium refining industries,” Sigma said in a statement Wednesday. The company is developing one of the world's biggest lithium projects, a large rock deposit in Brazil known as Grota do Cirilo. Bloomberg reported earlier this year that Sigma had been exploring a potential sale of the company and gauging interest from miners and carmakers. The boom in lithium has kick started a race for deposits. Mining heavyweights, battery manufacturers and automakers fro
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